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Monday, December 23, 2013

Vale to sell VLI unit stake to Brookfield for $842 million -filling, (NYSE: BAM)

Brazilian iron ore miner Vale said on Monday it agreed to sell a 26.5 percent stake in logistics company VLI SA to Canada's Brookfield Asset Management for 2 billion reais ($842.78 million).

Brookfield Asset Management Inc. (Brookfield) is a global alternative asset manager. Shares of BAM traded higher by 0.48% or $0.18/share to $37.99. In the past year, the shares have traded as low as $33.59 and as high as $40.82. On average, 658539 shares of BAM exchange hands on a given day and today's volume is recorded at 575478.